February 23, 2024

MANA, Shiba Inu, Cardano Price Analysis – November 19, 2021

As the total crypto market value drops towards 42.6 trillion, alternative coins like Shiba Inu and Cardano hit weekly lows in the past 72 hours. The alts had the short-term technicals suggesting bearish inclination but printed brief recovery gestures. Contrarily, MANA had upsurges since the past week, recording a more than 49% weekly ROI.

Cardano

Cardano (ADA) has seen a 41.3% plunge since September’s initial sessions until touching an 11-week low on October 27. After that, bulls stepped up to catalyze an upswing, registering a one-month peak on November 9.

However, they battled to secure ground as sell-off loomed, resulting in a 28.28% plummet from November 9 to November 18. With that, ADA hit a 14-week dip on November 18. Though bears showed ruthlessness overtaking the $1.8 level, bulls opposed around the lower trend-line.

While writing this content, Cardano traded at $1.808. The Relative Strength Index showed sellers’ preference but depicted recovery signals, dropping 12 points in 48 hours. Moreover, the bullish divergence by price actions and the RSI confirmed a short-term revival. On the other part, the DMI and Awesome Oscillator still show bearish attitudes.

Shiba Inu

SHIB has remained on continuous plunges after recording its all-time high on October 28. The correction phase had Shiba Inu reversing in a descending triangle and dropped by 50% in the following 22 days until November 19. During the period, SHIB touched a 3-week low on November 16.

Meanwhile, the DOGE-competitor failed to maintain beyond the $0.0000445-level, securing closest support near $0.00002914. While writing this content, Shiba Inu traded around $0.00004337.

The RSI remained around the midline in the last 19 days. However, the indicator displayed some reversal signals after a brief drop away from the oversold territory. Furthermore, the Awesome Oscillator and the DMI confirm the selling pressure.

Decentraland (MANA)

MANA has surged more than 500% since October 28 before touching its all-time high on October 31. After that, the metaverse token experienced downswings, falling by almost 45% until bulls dominated on November 11. For now, the token’s weekly ROI stands at 49%.

The bullish reversal broker out a descending wedge and resulted in northward parallel channels. Moreover, MANA bounced from the top trend-line after hitting $4.3 on November 19. Meanwhile, the token has increased by 12.3% in the last 24 hours as short-term technicals depicted a bullish outlook. At this publication, MANA lingers at $3.9349.

The RSI hovered around the midline over last week, displaying bullishness. Moreover, the DMI suggested the same. However, the Squeeze Momentum Indicator printed black dots, showing low volatility.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Whales Increase Their SHIB Holdings Despite Price Correction
Next post Ethereum Recovers After Falling Below $4,000